Annaly’s Board Names Kevin Keyes CEO Effective September 30, 2015
July 20 2015 - 4:05PM
Business Wire
Wellington Denahan Will Remain as Chairman
of the Board and Also Serve as Executive Chairman
Annaly Capital Management, Inc. (NYSE: NLY) (Annaly or the
Company) announced today that its Board of Directors has appointed
Kevin Keyes as its Chief Executive Officer. Mr. Keyes will also
retain the title of President. Wellington Denahan, Annaly’s
co-founder, Chairman and Chief Executive Officer, will remain
Chairman of the Board of Directors and will also serve as Executive
Chairman of the Company focusing on strategic and capital
allocation decisions.
Ms. Denahan remarked: “I’m very proud to have co-founded a
company that has grown to become the largest mortgage REIT in the
world while delivering competitive returns through a wide range of
market conditions. I look forward to continuing to work with Kevin
and the team as we navigate the opportunities ahead. Kevin began
working with Annaly more than a decade ago and we were very
fortunate to have him join the Company a few years later. He has
been hugely instrumental in helping shape the Company for the
future and has the leadership ability and broad experience to drive
Annaly’s success in the years ahead.”
“The Board of Directors is pleased to name Kevin as Annaly’s
CEO,” said Jonathan Green, Annaly’s Lead Director. “Kevin is a
proven leader who will enable us to take advantage of the Company’s
numerous growth opportunities in the evolving market landscape. We
also look forward to Wellington’s continuing contributions to the
Board and the Company as Executive Chairman.”
Kevin Keyes commented: “Nearly 20 years ago, Wellington and Mike
Farrell had the vision and leadership to create this phenomenal
Company. I’ve been very fortunate to both advise and work closely
with each of them and have admired Wellington’s leadership during
the challenging and rewarding times over the past few years. I know
the opportunity that lies ahead for Annaly is enormous and I am
honored and energized to lead along with Wellington going forward.
We have further developed and expanded the Annaly investment teams
over the past few years and are now more prepared than ever to
capitalize on our targeted options for growth in the industry
today.”
About Annaly
Annaly’s principal business objective is to generate net income
for distribution to its shareholders from its investments. Annaly
is a Maryland corporation that has elected to be taxed as a real
estate investment trust (“REIT”). Annaly is managed and advised by
Annaly Management Company LLC.
Other Information
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking
statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a
future period or periods or by the use of forward-looking
terminology, such as “may,” “will,” “believe,” “expect,”
“anticipate,” “continue,” or similar terms or variations on those
terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due
to a variety of factors, including, but not limited to, changes in
interest rates; changes in the yield curve; changes in prepayment
rates; the availability of mortgage-backed securities and other
securities for purchase; the availability of financing and, if
available, the terms of any financings; changes in the market value
of our assets; changes in business conditions and the general
economy; our ability to grow the commercial mortgage business;
credit risks related to our investments in commercial real estate
assets and corporate debt; our ability to consummate any
contemplated investment opportunities; changes in government
regulations affecting our business; our ability to maintain our
qualification as a REIT for federal income tax purposes; our
ability to maintain our exemption from registration under the
Investment Company Act of 1940, as amended; risks associated with
the businesses of our subsidiaries, including the investment
advisory business of a wholly-owned subsidiary and the
broker-dealer business of a wholly-owned subsidiary. For a
discussion of the risks and uncertainties which could cause actual
results to differ from those contained in the forward-looking
statements, see “Risk Factors” in our most recent Annual Report on
Form 10-K and any subsequent Quarterly Reports on Form 10-Q. We do
not undertake, and specifically disclaim any obligation, to
publicly release the result of any revisions which may be made to
any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date
of such statements.
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Annaly Capital Management, Inc.Investor Relations,
888-8Annalywww.annaly.com
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